So, you want to learn Bookkeeping! – Part I
Copyright Bean Counter
Hello my name is Dave and yes I'm a bean counter. No I didn't say alcoholic, that's a soft drink not a beer in my hand, and this is not a meeting of Alcoholics Anonymous. For those of you that don't know a bean counter is slang sometimes used to refer to a bookkeeper or accountant. I've searched the web for good bookkeeping and accounting tutorials and courses and came to the conclusion that they're hard to find so this is my attempt to try and fill the void. What qualifies me to attempt this task ? I guess you can tell it's not my fancy dress code.I have over 30 years experience in business and even taught at a small business college for a couple of years. My method of passing on knowledge is to make the subject easy to understand and to use simple examples and terminology to illustrate the concepts being presented. If you're anything like me I learn a lot easier when I can see an example of what we're talking about. Tell me and show me too.
This bookkeeping tutorial and course is geared to business owners, managers, and individuals who have not had any formal bookkeeping training or on the job experience and need or want to learn the basics of bookkeeping. In other words, this tutorial is for beginners (newbies) or those needing a quick refresher and is only an introduction into the world of accounting. They say a little knowledge is a dangerous thing. Well, my goal is to make you dangerous.
Brief History Of Accounting and Bookkeeping
Father Of Accounting – Luca Pacioli
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Each of the lessons builds on and uses terms and concepts from the previous lesson(s). Also, some of the lessons will reintroduce and discuss some important topics discussed in other lessons. This repetition is by design. The more times that you are exposed improves your chance for learning what accounting and bookkeeping is all about. Videos are included to emphasize key concepts. Quizzes and tests are used to test your knowledge. Some tests are not graded; they, are for self evaluation. Any test at the end of a Lesson is graded if you are registered for the course.
The Tutorial is presented in two parts:
Part I presents the Introduction and Lessons 1-3
Part II presents Lessons 4-7
Estimated Time To Complete Course
Approximately 1 hour per lesson for a total of 8 hours.
A menu of all the bookkeeping lessons is presented that guides you through the lessons.
To play the videos click on the video
The bar at the bottom of the video provides the following controls:
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Right Corner – Click To Adjust the Volume
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Press Esc Key to Minimize
The tests Open in a New Browser Window.
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This Introduction discusses the types of business organizations, types of business activities, users of financial information, bookkeeping systems, accounting rules, and the cash and accrual basis of accounting.
Lesson 1 The Bookkeeping Language introduces you to some of the terminology and definitions used in the accounting and bookkeeping language.
Lesson 2 Property and Property Rights
Explains Property & Property Rights, the Accounting Equation, double entry bookkeeping, and how business transactions affect the equation.
Lesson 3 Debits and Credits Introduces and explains Debits and Credits and how they affect the Accounting Equation and are used to record business transactions.
Lesson 4 Recording Business Transactions explains and uses examples to illustrate how business transactions are properly analyzed, recorded, and summarized.
Lesson 5 The General Ledger and Journals explains what General Ledger and Journals are, how they’re used, and what bookkeeping purposes they serve.
Lesson 6 Financial Statements explains what financial statements are, how they’re created,and how they’re used.
Lesson 7 Review of Major Concepts reviews the major definitions, concepts, and bookkeeping records previously discussed and necessary for an understanding of bookkeeping.
After completing this course, you should know or be able to perform the following:
Understand what accounting and bookkeeping is, why it’s important, and the key terms needed to discuss and properly use financial information
Understand what makes bookkeeping “work”:
Accounts/Chart Of Accounts
Double Entry Accounting System
Debits and Credits
Formal Records and Documents
How to analyze and record transactions using the formal financial records such as Journals and the General Ledger
What Financial Statements are and how they are prepared and used